OSLO, Norway, June 6, 2014 (GLOBE NEWSWIRE) -- Norwegian aluminium company Norsk Hydro ASA has signed a long-term power contract with Norwegian renewable energy producer Lyse Energi AS for annual supply of 0.7 terawatt hours (TWh) over 10 years from 2021.

Hydro signed a similar contract with Agder Energi AS last week, for an annual supply of 1 TWh over 10 years from 2021.

The contract will contribute to supplying power to Hydro's aluminium plants in Norway in the years after 2020, when the existing long-term power contract with Statkraft expires.

The Power Purchase Agreement (PPA) between Hydro's fully owned subsidiary Hydro Energi AS and Lyse Produksjon AS covers electricity supply over a 10-year period from January 1, 2021, with an annual volume of 0.7 TWh and a total delivery of 7 TWh.